Do I need a mortgage adviser?

Whether you’re buying a property or just re-mortgaging, mortgage advice can be a great help. Taking independent advice can make the difference between a successful mortgage application and being rejected. It may also lead to a significantly better value deal, potentially saving you thousands of pounds over the mortgage term.

We have worked with the same mortgage advisor for many years and many of our buyers use their services. You will receive a great service which is both professional and uncomplicated and we receive a small commission from the mortgage advisor.

What is a mortgage adviser or mortgage broker?

A mortgage adviser is a qualified professional who specialises in finding the most suitable mortgage deal for your circumstances. Often they will be called mortgage brokers, but there is no real difference between an adviser and a broker. The only significant difference you need to consider is between independent mortgage brokers and 'tied' mortgage brokers. An independent broker can source mortgages from the whole UK market, while a tied one will be restricted to certain providers, so may not be able to find such good deals.

Mortgages - Chesters Estate Agents and Surveyors

When should I seek mortgage advice

If you’re a first-time buyer, then you have the most to gain from mortgage advice, as the application tends to be more challenging (and the whole process will be new to you). However, a mortgage broker can be useful for any kind of mortgage application.

As soon as you have decided to start looking for a property to buy, call Chesters straight away and we can put you in touch with an advisor. They will indicate how much you can borrow and what you can afford to pay.

Other times when you may need advice include re-mortgaging, buying your next home or buying a second property, especially if you need to borrow more. An adviser can also find you the special mortgages you’ll need if you buy-to-let, or purchase business premises or a holiday home. Finally, mortgage advice can also help you tap into the value of your home in later life, through equity release.

When should I seek mortgage advice - Chesters Estate Agents and Surveyors

Benefits of using a mortgage broker

An independent mortgage adviser is not restricted to any particular providers, and will act solely in your best interests. You can therefore be confident that the deal they recommend will be the best available mortgage for your circumstances. A mortgage adviser should also:

  • Explain the various mortgages available and the different types of deals
  • Advise you on how much you can afford to borrow
  • Have access to special mortgage deals that are not available on the open market
  • Help you prepare for your application to boost your chances of success
  • Be able to save you money overall by finding a mortgage with lower interest rates and fees

Remember that every unsuccessful mortgage application may harm your chances of success next time around, as each refusal will appear on your credit record. Using a mortgage adviser will maximise your chances of being accepted first time.

Benefits of using a mortgage broker - Chesters Estate Agents and Surveyors